Major market players are spending a huge amount of money on R&D to enhance their product lines, which will help the nutricosmetics market grow even more. Market players are also taking various strategic initiatives to grow their footprint globally, with major market developments including new product launches, contractual agreements, increased investments, mergers and acquisitions, and collaboration with other organizations. Competitors in the nutricosmetics industry must offer cost-effective items to enhance and survive in an increasingly competitive and growing market environment.
Manufacturing locally to reduce operating costs is one of the major business strategies manufacturers adopt in the nutricosmetics industry to benefit clients and expand the market sector. In the nutricosmetics market, major players such as Laboratoire Dermatologique ACM (France), Forza Industries Ltd. (UK), Vitabiotics Ltd. (UK), and others are working on enhancing the market demand by investing in research and development activities.
Nykaa is an Indian e-commerce enterprise established by Falguni Nayar in the year 2012 and is headquartered in Mumbai. It trades beauty, wellness and fashion products all over the websites, mobile apps and 100+ offline shops. In 2020, it was the first Indian unicorn startup handled by a woman. In April 2022, Nykaa bought a 60% share in Nudge Wellness, marking Nykaa's entry into the nutricosmetics business. Nykaa is an Indian e-commerce company selling beauty, wellness, and fashion products.
Also, Herbalife Nutrition Ltd., also called Herbalife International, Inc. (with a US subsidiary known as Herbalife International of America), is a multi-level marketing (MLM) corporation that produces and trades dietary supplements. The firm was founded by Mark R. Hughes in 1980, employing an estimated 9,900 people globally. The company is included in the Cayman Islands and headquartered in Los Angeles, California. In August 2021, Herbalife Nutrition announced the launch of its multi-ingredient beauty supplement, "Herbalife SKIN LycoGlow," based on Lycored Nutrient Complex, a tomato extract procured from an Israeli firm Lycored.
The new supplement is heavy on lycopene and other carotenoids found in the fruit.
Nutricosmetics, sometimes known as "beauty foods," are able to satisfy the growing desire for practical, proactive methods of remaining youthful for a longer period of time. These cosmetics and beauty products incorporate components from nutritional supplements, functional foods, and cosmetics. The bulk of nutritional products called "nutricosmetics" on the market are meant to support the structure and functionality of the skin. Micronutrients with antioxidant qualities, omega-3 fatty acids, carotenoids, and flavonoids to shield the skin from UV damage are all included in nutricosmetic components.
In 2023, as the distinctions between wellness and beauty goods grew more hazy, Cosmetics Design-USA spoke with Neutrogena's team of specialists at CES about their ground-breaking partnership with the UK-based wellness company Nourished.
The 'Nourished x Neutrogena Skin360 SKINSTACKS' product was introduced last week at CES in Las Vegas by the skin care company Neutrogena, which is owned by Johnson & Johnson.Midway through 2022, Neutrogena and Nourished launched their combined business, which was centred on a "common objective focused on health, research, and technology.
The Ageless Skinstack, a line of custom 3D-printed dietary supplements for skin health, will be released in 2023 by Nourished in collaboration with Neutrogena. These supplements claim to support healthy skin from the inside out. Supplements have a considerable market for both established and emerging beauty businesses.
The Aloha Prepare and restore beauty supplement duo, designed to prepare and restore sensitive skin before and after exposure to the sun, was released in June 2017 by French direct-to-consumer nutricosmetics business D+ For Care. The vitamin, beta-carotene, and zinc combination in the Prepare product was made to increase melanin formation, promote cell renewal, and leave skin glowing all year long.